Tasnee Announces Competition Authority Approval for Tahawel Holding's Acquisition of its Stake in Al-Rowad Transformative Industrial

Logo of National Industrialization Company

National Industrialization Company announced that the General Authority for Competition has issued a non-objection decision to the economic concentration process related to Tahawel Holding's acquisition of all equity shares in Al-Rowad Transformative Industrial Company.

The company added in a statement on Tadawul that this fulfills one of the preconditions for completing the deal according to the terms of the relevant agreement.

It stated that the parties will continue working to complete the remaining conditions, requirements, and procedures necessary for closing and finalizing the deal, noting that any material developments in this regard will be announced in due course, in accordance with the relevant regulations, laws, and rules.

According to data available on Argaam, Tasnee had announced last March the signing of an agreement to sell its entire stake in Al-Rowad Transformative Industrial Company to the Saudi Transformative Industries Holding Company (Tahawel Holding) for a total value of 700 million riyals.

Al-Rowad Transformative Industrial Company is a group of companies operating under its umbrella, consisting of: Al-Rowad Global Packaging Limited, Taldeen Plastic Solutions Company, Al-Rowad National Plastic Limited, Al-Rowad International Industrial Films Limited, and Al-Rowad United Marketing.

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